(Valuewalk) The hedge fund industry has produced its ninth consecutive month of aggregate gains in July, and the difference between average gains and average losses was relatively narrow during the month. With much of the industry benefiting from surging equity markets, one would expect investors to be satisfied. However, there are segments which are not keeping pace, or are struggling to extract gains from how current global themes are affecting markets, and their relative valuations in the short-term. The result is likely an investor base which is feeling less positive about recent allocations than broad performance results would indicate.

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